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| Quarter | Letter Date | Fund Name | QTD | YTD | Tickers | Keywords/Themes | Theme Commentary | Pitches | Letter |
|---|---|---|---|---|---|---|---|---|---|
| 2024 Q1 | Apr 15, 2024 | Baron Growth Fund | 11.1% | 7.4% | ACGL, ALTR, ANSYS, ARE, BFAM, BYD, CG, CHH, CNS, CSGP, CWAN, DEI, DNUT, ESNT, FDS, FIGS, GLPI, GWRE, HLI, IDXX, IRDM, IT, KNSL, LFUS, MC, MORN, MSCI, MSTR, MTD, MTN, NEOG, PENN, PRI, RRR, SMCI, TECH, TREX, VAC, WST | financials, growth, insurance, Long Term, real estate, small caps | Specialty insurers Kinsale Capital and Arch Capital both contributed significantly to performance with strong financial results. Market conditions remain favorable with rising premium rates and more business shifting to the excess and surplus lines market where Kinsale operates. | View | |
| 2024 Q4 | Feb 10, 2025 | Springview Capital Management | 5.4% | 19.7% | AMZN, BRK-B, CPRT, CR, CRH, FFH, FMX, HLN.L, HLT, HOOD, MCY, MKL, MSGS, SEG, SPOT, V, VAC, WRB, WS, WTM | Capital Allocation, Concentration, long-term, P&C Insurance, risk management, value | The property/casualty insurance industry remains a favorite hunting ground for the partnership. The fund currently owns five P/C insurance companies (six including Berkshire Hathaway), with one being a special situation merger-arbitrage play. These insurers trade at attractive valuations, generate strong Returns on Equity, and have the ability to recycle and reinvest capital internally at high returns. | View | |
| 2025 Q3 | Nov 8, 2025 | Cullen Small Cap Value Equity | 14.2% | 5.6% | AVNT, CROX, ECVT, HUN, KWR, STR, UA, UIS, VAC | financials, Mortgage, rates, real estate, Regional Banks, small caps, value | Small-cap equities delivered exceptional performance with Russell 2000 gaining 12.4% and Russell 2000 Value advancing 12.6%, outpacing large caps. The rally was fueled by Fed rate cuts, economic resilience, and renewed risk appetite. Small caps entered the quarter trading at multi-decade lows relative to large caps, providing valuation support and asymmetrical upside as earnings recover. | View | |
| 2023 Q3 | Sep 30, 2023 | Baron Focused Growth Fund | 11.7% | 13.2% | ACGL, CHH, CSGP, DNUT, FDS, FIGS, GWRE, H, IRDM, MANU, MGM, MSCI, MTN, ONON, RRR, SPOT, TSLA, VAC | Concentration, consumer discretionary, financials, growth, long-term, technology | Portfolio companies continue to generate strong results despite macroeconomic concerns. Most businesses have yet to experience changes in customer demographics or spending levels and have been able to offset cost increases with higher prices without impacting demand. | View | |
| 2023 Q3 | Sep 30, 2023 | Baron Partners Fund | 13.9% | 4.5% | ACGL, CSGP, FDS, FIGS, GLPI, GWRE, H, HEI, IDXX, IRDM, IT, MRNA, MSCI, MTN, NVDA, RRR, SCHW, SPOT, TSLA, VAC | diversification, financials, growth, Leverage, mid cap, technology, Tesla | Tesla remains the Fund's largest holding at 41% despite quarterly decline due to macroeconomic pressures and price reductions. The manager expects Tesla to benefit from Cybertruck deliveries, next platform development, and AI investments in Dojo supercomputer for full self-driving capabilities. | View | |
| 2023 Q4 | Feb 20, 2024 | Baron Growth Fund | 11.1% | 7.4% | ACGL, ALTR, ANSYS, ARE, BFAM, BYD, CG, CHH, CNS, CSGP, CWAN, DEI, ESNT, FDS, FIGS, GLPI, GWRE, HLI, IDXX, IRDM, IT, KNSL, LFUS, MC, MORN, MSCI, MTD, MTN, NEOG, PENN, PRI, RRR, TECH, TREX, VAC, WST | growth, insurance, Long Term, Quality, real estate, small cap, technology, Travel | The fund holds significant positions in specialty insurers Kinsale Capital Group and Arch Capital Group. Both companies operate in the hard market for property and casualty insurance, with Kinsale showing 33% growth in gross written premiums and Arch demonstrating strong fundamentals with 23% growth in net premiums written. | View | |
| 2023 Q4 | Feb 20, 2024 | Baron Partners Fund | 13.9% | 4.5% | ACGL, BIRK, CSGP, FDS, FIGS, GLPI, GWRE, H, HEI, IDXX, IRDM, IT, MRNA, MSCI, MTN, NVDA, RRR, SCHW, SPOT, TSLA, VAC | diversification, growth, Leverage, technology, Tesla, volatility | Tesla remains the largest position at 38.1% of assets despite near-term automotive pressures from macroeconomic headwinds and price reductions. The company delivered its highly anticipated Cybertruck and refreshed Model 3 while continuing robust product development. Management anticipates introducing a new lower-priced vehicle next year to address a much larger market segment. | View | |
| 2023 Q4 | Jan 27, 2024 | Baron Focused Growth Fund | 11.7% | 13.2% | ACGL, ANSYS, BNTX, CHH, CSGP, FDS, FIGS, GWRE, H, IDXX, ILMN, IRDM, MSCI, RIVN, RRR, SHOP, SPOT, TSLA, VAC, VRSK | Casinos, consumer discretionary, Electric Vehicles, financials, growth, Hotels, Space, technology | Tesla remains the Fund's largest position at 11.4% despite modest quarterly decline. The manager views Tesla as benefiting from AI investments through autonomous driving technology, Dojo training computer, and humanoid robotics. The Cybertruck launch and refreshed Model 3 are generating strong demand while improving unit economics. | ARGX BB|DAVA|DDOG|GLOB|ILMN|LOAR|MELI|NET|NU|NVDA|TSM ACGL|APH|COO|CSGP|DKNG|GWRE|IDXX|IOT|IT|LPLA|MSCI|MTD|PCOR|ROP|TECH|VRSK ACGL|APH|COO|CSGP|DKNG|GWRE|IDXX|IOT|IT|LPLA|MSCI|MTD|PCOR|ROP|TECH|VRSK CHRS ACGL|CHH|FDS|GWRE|IBKR|IDXX|MTN|SPOT|TSLA BNTX |
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| Date | Pitch Type | Author | Company | Industry | Sub Industry | Bull / Bear | Stock Exchange | Keywords | Action |
|---|---|---|---|---|---|---|---|---|---|
| No pitches found. | |||||||||
| Manager Name | Fund Name | Fund AUM | Invested Value | Portfolio Weight | Shares Owned | Shares Bought / Sold During Quarter | % Bought / Sold During Quarter | % of Shares Outstanding Owned |
|---|---|---|---|---|---|---|---|---|
| No investor data available. | ||||||||